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Insurance cover - flooding risks
anoneemouse
Posts: 166 Forumite
I am aware that, at some point, the agreement between the Government and insurance companies for insurance companies to continue to provide full insurance cover (including against flooding) will expire.
Obviously I wouldnt look to buy a place that I feel is too much on a level with sea/river/etc anyway - as I personally would worry about possible flooding risk.
However - it would appear that at least some insurance companies ask questions about the distance properties are from the nearest "body of water". I feel this is a very badly phrased question - as it might be that a house was just 50 feet even from the "nearest body of water" - but that 50 feet was uphill all the way. With that - no reasonable person would feel that that house was at risk of flooding from the "body of water" and wouldnt expect insurance companies to have any concerns about it either.
Does anyone know the exact position on this:
- how many insurance companies ask for distance from the "nearest body of water"?
- are those companies realistic about taking into account whether the property concerned is high enough up from the "body of water" that it does not pose a flooding risk (even if its near to the "body of water")?
- what exactly do they mean by a "body of water"? Do they only count rivers and the sea - or would they also count ponds, lakes, streams?
- if insurance companies were awkward about providing cover for properties that a reasonable person could see werent at risk from flooding - then would they still accept that they had to provide cover against the other risks (ie fire and theft) - but just leave flooding out of what they covered (and obviously charge appropriate less for insurance cover - because it was only partial cover)?
- Where can I check for the list of properties/postcodes/etc that insurance companies will no longer wish to cover once their agreement with the Government terminates?
Obviously I wouldnt look to buy a place that I feel is too much on a level with sea/river/etc anyway - as I personally would worry about possible flooding risk.
However - it would appear that at least some insurance companies ask questions about the distance properties are from the nearest "body of water". I feel this is a very badly phrased question - as it might be that a house was just 50 feet even from the "nearest body of water" - but that 50 feet was uphill all the way. With that - no reasonable person would feel that that house was at risk of flooding from the "body of water" and wouldnt expect insurance companies to have any concerns about it either.
Does anyone know the exact position on this:
- how many insurance companies ask for distance from the "nearest body of water"?
- are those companies realistic about taking into account whether the property concerned is high enough up from the "body of water" that it does not pose a flooding risk (even if its near to the "body of water")?
- what exactly do they mean by a "body of water"? Do they only count rivers and the sea - or would they also count ponds, lakes, streams?
- if insurance companies were awkward about providing cover for properties that a reasonable person could see werent at risk from flooding - then would they still accept that they had to provide cover against the other risks (ie fire and theft) - but just leave flooding out of what they covered (and obviously charge appropriate less for insurance cover - because it was only partial cover)?
- Where can I check for the list of properties/postcodes/etc that insurance companies will no longer wish to cover once their agreement with the Government terminates?
0
Comments
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Postscript to this:
I'm in process of checking out who to have my house insurance with for the next year and filled in a questionnaire online from a firm and their question was:
"Is the property and any neighbouring property (which is within 200 metres of your home) free from flooding by sea or river in the past 10 years?"
So - is this the standard wording of insurance forms - that is that it is not a "body of water" that they are concerned with. Instead it is "the sea or a river" - but they take the commonsense view that they dont concern themselves about ponds/lakes/streams?
What is the exact wording other people have on their insurance forms please?0
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